Direct Property News

January 18, 2019

Official data shows price growth in the UK increased slightly in November

Property prices in the UK increased by 2.8% in the year to November 2018, up slightly from 2.7% in the 12 months to October 2018, the latest official figures show. However, a breakdown of the figures from the Land Registry show that the growth is not universal. In England while prices have increased by 2.6% year on year, they have fallen by 0.1% month on month to an average of £247,430. In Wales prices were up by 5.5% year on year and they also increased month on month, up by 0.2% to an average price of £161,499. On an annual basis prices in Scotland increased by 2.9% to an average of £150,638, but fell marginally by…
January 11, 2019

UK property market saw prices rise at end of 2018

The property market in the UK improved slightly in December with annual price growth of 1.3%, up from the 0.3% recorded in November, according to the latest lender index. This took the average price to £229,729 and overall in 2018 house price growth was within the 0% to 3% forecast from lender the Halifax. The data from the Halifax index also shows that month on month prices increased by 2.2% in December following a fall of 1.2% in the previous month but on a quarterly basis prices were 0.4% lower. ‘In 2019, we’re expecting continued stability in house prices with between 2% and 4% price inflation. This is slightly stronger than 2018, but still fairly subdued…
January 8, 2019

Rents in England and Wales up by 1.8% in year to November 2018

Rents in England and Wales increased by 1.8% in the 12 months to November 2018, taking the average paid to £864 per calendar month, the latest index shows. The South West recorded the strongest annual growth at 4.3% to an average of £701, followed by the East Midlands, up 1.9% to £663, according to the data from Your Move. London remains the most expensive place to rent with an average rent of £1,263, followed by the South East at £897 and the East of England at £881. Month on month rents increased by 0.1% and the biggest monthly rise was 0.4% in Wales and the West Midlands, taking average rents to £594 and £627 respectively. Landlords…
December 28, 2018

Average prices up just 1.02% in 2018, but some locations saw much higher growth

Property prices in Britain increased by 1.02% annually in 2018, equating to an increase of £2,860 for the average property and a daily increase of £8, new research shows. The growth added £83 billion to the value of the nation’s residential property market, taking its overall value to £8.29 trillion. Regionally, Scotland came out on top, with average prices growing by 6.43% to an average of £195,739, according to the data from property portal Zoopla. Wales saw values up by 3.98% to an average of £192,362, followed by the East Midlands where house prices have risen by 2.91% to £220,746. Only one town in Britain saw double digit growth in property values in 2018 with Ryde…
December 28, 2018

Property prices in the UK likely to be stable in 2019, but depends on Brexit deal

The housing market in the UK has performed in line with expectations over the past year with prices set to be stable in 2019, according to an end of year analysis for lender the Halifax. The report points out that 2018 growth has been at the lower end of it’s forecast of 0% to 3% growth for the year. It predicts broad stability for house prices in 2019 with growth of between 2% and 4% price inflation, although it warns that this will be dependent on the outcome of Brexit which takes place at the end of March. It also points out that the current shortage of homes for sale and low levels of house building…
December 27, 2018

Prime property market in Edinburgh it one of the top performers in Europe

Prices in Edinburgh’s prime property market increased year on year by 10.6% in 2018, the highest level of annual growth for more than a decade, the latest analysis shows. Properties valued above £2 million recorded the strongest price growth in the fourth quarter, with values up 3.5% between October and December, the data from Knight Frank’s Edinburgh City index also shows. Meanwhile, sales volumes above £1 million in the city were 12% higher than at the same point in 2017 and this robust activity is underpinning strong price growth overall. The report also reveals that properties are selling faster, with the average time taken between a property first coming onto the market and it reaching a…
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